The Ethereum platform is about to increase transaction throughput 100 times

The Ethereum platform is about to increase transaction throughput 100 times


2021-03-23 20:25:31

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Ethereum co-founder Vitalik Buterin revealed that it may be only a few weeks before it will be able to mitigate the smart contract’s scaling problems.

In an episode of the Tim Ferriss Show, Buterin explained that rollups could improve ETH’s scalability ahead of the long-awaited ETH 2.0 launch.

According to Buterin, the interim fix for Ethereum’s network congestion issues could be ready within a few weeks and will improve the transaction throughput of the smart contract platform by 100 times.

Although the team ultimately plans to use sharding, the process of splitting the Ethereum infrastructure to distribute the network’s payload and increase scalability, Buterin said it is now more focused on finding usage. and consolidate more complete rollups with a proof-of-stake system.

Basically, proof-of-stake is already present, stable, running, and at some point pretty soon we’ll actually consolidate all proof-of-work into it.

So sharding is also going to happen… I’ll admit that we’ve been really prioritizing merging lately over sharding. The reason is because they are actually related to rollups, right? The thing to remember is that if you have rollups, but you don’t have sharding, you still have a throughput rate of x100.

You still have the ability for the blockchain to process between 1,000 and 4,000 transactions per second, depending on the complexity of these transactions …

With the news of an Ethereum scaling solution that could help this smart contract platform maintain its advantage over other blockchain networks like Binance Smart Chain (BSC).

In a video last month, crypto analyst Lark Davis noted that Ethereum “is becoming a chain dedicated to wealthy investors” due to sky-high gas fees, prompting Buterin to accelerate the launch. Ethereum 2.0.

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